Stockland Financial Report 2009

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rePort on tHe fInanCIaL rePort
Stockland comprises the consolidation of Stockland Corporation Limited (“the Company”) and its controlled entities, including Stockland Trust and its controlled entities, which form the
consolidated entity (“Stockland” or “the consolidated entity”).
We have audited the accompanying financial report of Stockland, which comprises the balance sheets as at 30 June 2009, and the income statements, statements of changes in equity and
cash flow statements for the year ended on that date, a summary of significant accounting policies and other explanatory notes 1 to 51 and the directors’ declaration of the consolidated
entity comprising the Company and the entities it controlled at the year’s end or from time to time during the financial year.
dIreCtors’ resPonsIBILItY for tHe fInanCIaL rePort
The directors of Stockland Corporation Limited and the directors of Stockland Trust Management Limited, the Responsible Entity of Stockland Trust (collectively referred to as “the directors”)
are responsible for the preparation and fair presentation of the financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and
the Corporations Act 2001. This responsibility includes establishing and maintaining internal control relevant to the preparation and fair presentation of the financial report that is free from
material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.
In note 1(a), the directors also state, in accordance with Australian Accounting Standard AASB 101 Presentation of Financial Statements, that the financial report, comprising the financial
statements and notes, complies with International Financial Reporting Standards.
audItor’s resPonsIBILItY
Our responsibility is to express an opinion on the financial report based on our audit. We conducted our audit in accordance with Australian Auditing Standards. These Auditing Standards
require that we comply with relevant ethical requirements relating to audit engagements and plan and perform the audit to obtain reasonable assurance whether the financial report is free
from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial report. The procedures selected depend on the auditor’s judgement,
including the assessment of the risks of material misstatement of the financial report, whether due to fraud or error. In making those risk assessments, the auditor considers internal control
relevant to the entity’s preparation and fair presentation of the financial report in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of
expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of
accounting estimates made by the directors, as well as evaluating the overall presentation of the financial report.
We performed the procedures to assess whether in all material respects the financial report presents fairly, in accordance with the Corporations Act 2001 and Australian Accounting
Standards (including the Australian Accounting Interpretations), a view which is consistent with our understanding of the Company’s and the consolidated entity’s financial position and
of their performance.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
IndePendenCe
In conducting our audit, we have complied with the independence requirements of the Corporations Act 2001.
Independent Auditor’s Report
to the stapled securityholders of Stockland
Stockland Corporation Limited and its controlled entities (including Stockland Trust)

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Stockland 2009 Financial Report